Tidal Investments LLC Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Tidal Investments LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 10.8% in the 4th quarter, HoldingsChannel reports. The firm owned 97,846 shares of the business services provider’s stock after acquiring an additional 9,522 shares during the period. Tidal Investments LLC’s holdings in Copart were worth $5,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after purchasing an additional 976,909 shares in the last quarter. Edgewood Management LLC increased its stake in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares in the last quarter. Capital World Investors increased its stake in shares of Copart by 0.8% in the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider’s stock worth $1,225,502,000 after purchasing an additional 169,354 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Copart by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock worth $1,097,153,000 after buying an additional 408,677 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Stock Performance

Shares of CPRT stock opened at $61.62 on Wednesday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a market capitalization of $59.53 billion, a PE ratio of 41.36 and a beta of 1.20. The stock has a fifty day simple moving average of $58.58 and a two-hundred day simple moving average of $58.16.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,000 shares of company stock worth $11,401,000. Corporate insiders own 9.68% of the company’s stock.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.